British MP wants to allow paying taxes in cryptocurrency
|- UK polititians getting lowyal to digital assets.
- Bitcoin may be used to pay taxes.
The United Kindom joined the group of countries that might allow paying taxes and utilities with virtual money. Eddie Hughes, a member of Parliament from a Conservative party, believes that one-day crypto payments to local authorities and utility providers should be a possibility.
“It just feels like it gets talked about a lot, wherever you go in the UK, and as MPs, we have a duty to understand it,” he said.
Eddie Hughes says that he is a "crypto enthusiast with amateur knowledge," and urges his fellow Parliament members to get a better understanding of what is blockchain and cryptocurrencies.
“Only recently I met with the RNLI which is now accepting charitable donations through cryptocurrency – if we can do that, what’s to stop us being able to pay council tax and other bills with bitcoin?”
Meanwhile, earlier this month, the authorities of the US state of Ohio allowed corporates to pay taxes with bitcoin. According to Hughes, the UK needs to follow the lead and devise a similar scheme in its own land.
“You’re either ahead of the curve, or you’re behind the curve, and our country is in an interesting position right now – we need to be seen as a progressive country. We are at a crossroads, and we’re about to determine our future – one in which taking the lead in this field could prove very beneficial,” he explained.
Meanwhile, according to the latest research, about one-third of Londoners are willing to invest in cryptocurrencies, nationwide, this figure is substantially lower - only 13%.
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